June 13, 2000 |
News Corp., the media company controlled by Rupert Murdoch, plans to name Chase Carey to head its new satellite television company, according to a person close to News Corp. Carey has been co-chief operating officer of the world's fourth-biggest media company since 1996 and has been a key figure in guiding its global strategy. He also serves in the five-person office of the chairman and is a member of News Corp.'s board. News Corp.
July 23, 2001 |
Federal regulators are expected this week to approve News Corp.'s $5.35-billion purchase of Chris-Craft Industries Inc.'s 10 television stations--waiving government rules that would have prevented the deal, sources said. The purchase was announced last August, but Democrats on the Federal Communications Commission have resisted approving the deal out of concern it would allow media mogul Rupert Murdoch's company to exceed agency limits on the reach of media companies.
May 13, 1997 |
EchoStar Communications Corp. is suing News Corp. for $5 billion in damages for allegedly violating their joint venture and said it soon will run out of capital to expand its satellite TV business. The broadcaster also said it plans to seek another partner in a bid to build its satellite network. News Corp. had agreed to invest $1 billion and form a broadcaster intended to reach 75% of U.S. homes by 1999. The lawsuit is "without merit and we'll contest it," said News Corp. spokesman Jim Platt.
March 28, 1997 |
Investors remember all too vividly 1990, when Rupert Murdoch's wild spending spree almost buried News Corp. under a pile of debt. Now worries that the media maverick may be careening down the same path again--or at least is taking on more than he can chew--is creating havoc with News Corp.'s stock. Murdoch has had an extraordinarily busy six months, starting up a cable news channel, acquiring additional sports rights for regional networks and digesting the $2.
February 8, 2001 |
Rupert Murdoch's News Corp. reported a net loss of $23 million in the latest quarter because of a large write-down from investments. Without one-time items, earnings rose on a turnaround in box office results. News Corp. posted a charge of $281 million on losses related to restructuring its partnership with WebMD and investments in other Internet companies. Net earnings a year ago of $677 million were lifted by gains from the sale of shares in EchoStar, the satellite broadcaster.
May 7, 1996 |
The competition among the proposed all-news channels is so intense that News Corp. is offering to pay cable systems $10 per subscriber, and in some cases $11, for carrying its new network, according to cable executives. While it is not unusual for new programming services to give cable operators an incentive for coverage, the price News Corp. is paying far exceeds those offered in the past, when there were fewer channels vying for space. QVC Inc.
December 19, 2006 |
Media giant News Corp. took the unusual step Monday of releasing notes of a conversation between one of its attorneys and former book publisher Judith Regan to show that she made anti-Semitic remarks that led to her firing. Regan, meanwhile, hired Hollywood attorney Bert Fields to deny the allegations and vigorously contest her dismissal. Fields said the firing was the result of a long-running feud between Regan and her boss, Chief Executive Jane Friedman of HarperCollins, a News Corp. unit.
May 3, 2001 |
News Corp., owner of Fox Entertainment Group and the New York Post, faces charges of distorting data as it seeks U.S. approval by a Saturday deadline for its $5-billion purchase of Chris-Craft Industries Inc. A coalition of consumer groups that oppose the merger said News Corp. gave the Federal Communications Commission information about the New York Post's finances that overstated losses as the company seeks a waiver of broadcast-ownership rules.
May 8, 1997 |
Media giant News Corp. said Wednesday that its earnings rose sharply in the latest quarter, helped by its U.S. television operations and a strong performance by the "Star Wars" trilogy in its cinema reprise. News Corp., which is led by Rupert Murdoch, said in a statement released in New York that its profit after one-time items for its third quarter ended March 31 rose to $256 million from $59 million a year earlier. Revenue rose 27% to $2.9 billion.
November 9, 2000 |
News Corp., the media company controlled by Rupert Murdoch, said Wednesday that its fiscal first-quarter profit fell 10% because of lower audience ratings at Fox Television Network. Profit from operations fell to $149 million, or 14 cents per American depositary receipt, from $165 million, or 16 cents, a year earlier. Revenue rose 2.6% to $3.24 billion. The profit matched the average estimate of eight analysts polled by First Call/Thomson Financial. Fox, the No. 4-rated U.S.